30s Summary

Decentralized AI Society (DAIS), a non-profit that targets the ongoing monopoly in AI, intends to pilot a new project in Bermuda and launch an AI startup funding scheme. The initiative will use tokenization to avoid single-entity control and will test a fresh governance method for AI in Bermuda adjusting to decentralized groups. This new approach responds to the increasing interest from crypto-investors in blockchain-based AI, who invested $213m in relevant start-ups in Q3 2024 alone. The collaboration of AI and blockchain is anticipated to revolutionise the digital economy, paving the way for AI agents to interact freely with humans on Web3.

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The Decentralized AI Society (DAIS), a fresh non-profit group working with blockchain and artificial intelligence, is gearing up for some exciting stuff. They’ve got plans to test a new project in Bermuda and also launch a funding initiative dedicated to AI startups next year, according to Michael Casey, the co-founder of DAIS.

These moves are set to tackle the growing monopoly in the world of AI, as these technologies grow more influential every day. For the AI funding program, DAIS is pushing boundaries on how groups can pool together money without falling into the same pitfalls of old-fashioned business funding models.

Using tokenization, a method that basically lets loads of people own and grow a single asset, will be crucial in making sure no one entity has all the control. Also, on the agenda for DAIS is piloting a new governance technique for AI in Bermuda.

This basically means defining a set of rules that can cater to decentralised groups. The present systems, which concentrate on one central model, just aren’t cutting it when it comes to these new forms of setups.

Launched only a couple of months ago, DAIS is really revving up to shape the future of AI tech and policy-making. They want to challenge the bigwig AI creators who they believe will try to monopolise these regulations over time.

According to Casey, major firms are pushing for regulation, often to establish their models as the go-to standard, which can hold back competitors. Meanwhile, blockchain-powered AI is piquing the interest of crypto-investors. These firms have already pumped some $213 million into AI start-ups in the third quarter of 2024 alone.

Agentic AI is also catching the eyes of investors since Marc Andreessen, co-creator of the a16z company, donated $50,000 in Bitcoin to Truth Terminal, a semi-self-governing AI player, earlier this year.

New AI tokens like Goatseus Maximus (GOAT) and AI16Z which were introduced recently, are pulling in billions of dollars in market capitalisation. The marriage of AI and blockchain is poised to revolutionise the digital economy, shaping a future where AI creatures will be able to freely interact with humans on Web3, according to Coinbase Ventures.

They envision a world where these AI agents will have their own crypto wallets and even utilize stablecoins to pay humans and other agents for completing tasks.